RETIREMENT PLANS

Barnwell sponsors a noncontributory defined benefit pension plan (“Pension Plan”) covering substantially all of its U.S. employees. Additionally, Barnwell sponsors a Supplemental Employee Retirement Plan (“SERP”), a noncontributory supplemental retirement benefit plan which covers certain current and former employees of Barnwell for amounts exceeding the limits allowed under the Pension Plan, and a postretirement medical insurance benefits plan (“Postretirement Medical”) covering eligible U.S. employees.

The following table details the components of net periodic benefit (income) cost for Barnwell’s retirement plans:



	Pension Plan						SERP						Postretirement Medical
	Three months ended December 31,
	2018			2017			2018			2017			2018		2017
Service cost	$	50,000		$	53,000		$	9,000		$	6,000		$	—	$	—
Interest cost	93,000			89,000			21,000			15,000			25,000		19,000
Expected return on plan assets	(161,000		)	(147,000		)	—			—			—		—
Amortization of prior service cost (credit)	1,000			1,000			(1,000		)	(1,000		)	—		—
Amortization of net actuarial loss	3,000			21,000			1,000			—			13,000		3,000
Net periodic benefit (income) cost	$	(14,000	)	$	17,000		$	30,000		$	20,000		$	38,000	$	22,000

The components of net periodic benefit (income) cost, including service cost, are included in “General and administrative” expenses in the Company's Condensed Consolidated Statements of Operations.

Barnwell estimates that it will make approximately $150,000 in contributions to the Pension Plan during fiscal 2019. The SERP and Postretirement Medical plans are unfunded, and Barnwell funds benefits when payments are made. Expected payments under the Postretirement Medical plan and the SERP for fiscal 2019 are not material. Fluctuations in actual equity market returns as well as changes in general interest rates will result in changes in the market value of plan assets and may result in increased or decreased retirement benefits costs and contributions in future periods.